REGISTERED NUMBER: 05268917 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

SPRAKE & TYRRELL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A P Sprake

Mrs M J Sprake

Mr B Sprake

SECRETARY:

Mrs M J Sprake

REGISTERED OFFICE:

Low Road

Mettingham

Bungay

Suffolk

NR35 1TS

REGISTERED NUMBER:

05268917 (England and Wales)

ACCOUNTANTS:

Berry & Warren Ltd

Chartered Accountants

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

48,378

64,504

48,378

64,504

CURRENT ASSETS

Debtors

6

227,589

441,957

Cash at bank

14,147

60,373

241,736

502,330

CREDITORS

Amounts falling due within one year

7

194,978

306,219

NET CURRENT ASSETS

46,758

196,111

TOTAL ASSETS LESS CURRENT LIABILITIES

95,136

260,615

CREDITORS

Amounts falling due after more than one year

8

-

(3,664

)

PROVISIONS FOR LIABILITIES

(12,095

)

(16,126

)

NET ASSETS

83,041

240,825

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

82,941

240,725

SHAREHOLDERS' FUNDS

83,041

240,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th September 2025 and were signed on its behalf by:

Mr A P Sprake - Director

1.	STATUTORY INFORMATION

Sprake & Tyrrell Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the company's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill was amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life, considered to be 5 years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery - 25% reducing balance

Motor vehicles - 25% reducing balance

The assets' residual values , useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and retained earnings.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

70,000

AMORTISATION

At 1st January 2024

and 31st December 2024

70,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

45,552

143,351

188,903

DEPRECIATION

At 1st January 2024

37,663

86,736

124,399

Charge for year

1,972

14,154

16,126

At 31st December 2024

39,635

100,890

140,525

NET BOOK VALUE

At 31st December 2024

5,917

42,461

48,378

At 31st December 2023

7,889

56,615

64,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st January 2024

72,359

Transfer to ownership

(33,279

)

At 31st December 2024

39,080

DEPRECIATION

At 1st January 2024

35,253

Charge for year

4,694

Transfer to ownership

(14,949

)

At 31st December 2024

24,998

NET BOOK VALUE

At 31st December 2024

14,082

At 31st December 2023

37,106

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

187,418

340,333

Other debtors

40,171

101,624

227,589

441,957

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

3,664

15,319

Trade creditors

162,162

254,648

Taxation and social security

10,909

16,609

Other creditors

18,243

19,643

194,978

306,219

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

3,664

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

3,664

18,983

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

£

Mr B Sprake

Balance outstanding at start of year

23,250

14,981

Amounts advanced

-

23,250

Amounts repaid

(23,250

)

(14,981

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

23,250

11.	RELATED PARTY DISCLOSURES

The company is under the control of the directors.

Debtors includes £27,426 owed by a company in which they own 75.5% of the issued share capital.

Sprake & Tyrrell Ltd carried out work for this company amounting to £1,305,000. This is for property development work which is paid when funds are available.